Time Warner Cable Profit Jumps Ahead Of Comcast Deal

Good News For Time Warner Cable
Customers enter the Time Warner Cable store in Torrance, California, U.S., on Monday, Aug. 12, 2013. Time Warner Cable Inc. said it's talking with CBS Corp., after a breakdown in negotiations led the cable provider to block its customers from seeing the network. Photographer: Patrick Fallon/Bloomberg via Getty Images
Customers enter the Time Warner Cable store in Torrance, California, U.S., on Monday, Aug. 12, 2013. Time Warner Cable Inc. said it's talking with CBS Corp., after a breakdown in negotiations led the cable provider to block its customers from seeing the network. Photographer: Patrick Fallon/Bloomberg via Getty Images

April 24 (Reuters) - Time Warner Cable Inc, the second-largest U.S. cable operator, posted a 19.5 percent rise in quarterly profit as its residential subscriber trends improved through the quarter.

Net income attributable to common shareholders rose to $479 million, or $1.70 per share, in the first quarter ended March 31, from $401 million, or $1.34 per share, a year earlier.

Excluding items, the company earned $1.78 per share - above analysts' average expectation of $1.68 per share, according to Thomson Reuters I/B/E/S.

Revenue rose 2 percent to $5.58 billion. Analysts were expecting $5.64 billion. The company said it lost 34,000 residential video customers in the quarter on a net basis.

Time Warner Cable will be acquired in a $45.2 billion deal by Comcast once regulators approve the transaction. (Reporting by Soham Chatterjee; Editing by Joyjeet Das)

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